Vera Bradley, Inc. (VRA) Major Shareholder Sells $32,427.15 in Stock

Vera Bradley, Inc. (NASDAQ:VRA) major shareholder Michael C. Ray sold 2,429 shares of Vera Bradley stock in a transaction that occurred on Wednesday, October 17th. The stock was sold at an average price of $13.35, for a total value of $32,427.15. Following the transaction, the insider now owns 65,595 shares of the company’s stock, valued at $875,693.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Shares of VRA opened at $12.80 on Friday. The firm has a market capitalization of $470.60 million, a price-to-earnings ratio of 21.33 and a beta of 0.35. Vera Bradley, Inc. has a fifty-two week low of $6.99 and a fifty-two week high of $17.38.

Vera Bradley (NASDAQ:VRA) last issued its quarterly earnings results on Wednesday, September 5th. The textile maker reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.10. Vera Bradley had a return on equity of 9.82% and a net margin of 3.76%. The company had revenue of $113.60 million during the quarter, compared to the consensus estimate of $113.14 million. During the same period in the previous year, the firm posted $0.13 EPS. Vera Bradley’s revenue was up 1.1% on a year-over-year basis. Equities research analysts anticipate that Vera Bradley, Inc. will post 0.59 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. North Fourth Asset Management LP purchased a new stake in shares of Vera Bradley during the 2nd quarter valued at $2,583,000. Bailard Inc. purchased a new stake in shares of Vera Bradley during the 2nd quarter valued at $625,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Vera Bradley by 65.4% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 198,306 shares of the textile maker’s stock valued at $2,784,000 after buying an additional 78,381 shares during the period. Mackay Shields LLC grew its stake in shares of Vera Bradley by 650.9% during the 2nd quarter. Mackay Shields LLC now owns 82,600 shares of the textile maker’s stock valued at $1,160,000 after buying an additional 71,600 shares during the period. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Vera Bradley during the 2nd quarter valued at $290,000. 69.38% of the stock is owned by institutional investors.

Several research analysts have weighed in on VRA shares. BidaskClub downgraded Vera Bradley from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. TheStreet upgraded Vera Bradley from a “c” rating to a “b” rating in a report on Thursday, September 6th. Telsey Advisory Group boosted their price target on Vera Bradley from $15.00 to $17.00 and gave the company a “market perform” rating in a report on Thursday, September 6th. Finally, Zacks Investment Research downgraded Vera Bradley from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $14.25.

About Vera Bradley

Vera Bradley, Inc, together with its subsidiaries, designs, manufactures, and sells women's handbags, luggage and travel items, fashion and home accessories, and gifts. It operates through two segments, Direct and Indirect. The company offers totes, crossbodies, satchels, clutches, backpacks, baby bags, and lunch bags; accessories, including wallets, wristlets, eyeglass cases, scarves, and various technology accessories; and travel products, such as rolling luggage, cosmetics, and travel and packing accessories, as well as travel bags comprising duffel and weekend bags.

Further Reading: Intrinsic Value and Stock Selection

Insider Buying and Selling by Quarter for Vera Bradley (NASDAQ:VRA)

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